"The pilot's inaccurate situational awareness led to his decision to continue operation of the aircraft in icing conditions that exceeded the aircraft's performance capabilities," says the report released Thursday.

"The severity of the icing conditions encountered and the duration of the exposure resulted in reductions in aerodynamic performance, making it impossible to prevent descent of the aircraft."

Investigators also found shortcomings with passenger briefing procedures and that survival equipment was not accessible.

The board says since the crash Air Tindi has improved its pilot training and safety procedures.

The report says the survival skills of the crew and passengers, who managed to light a fire on a nearby island, were indispensable in a situation in which they couldn't get to the plane's survival gear.

Air Tindi President Al Martin said it was a good, factual report and noted the company has been working to improve since the crash, including temporarily grounding its aircraft fleet for a safety review.

"Our focus has been on providing more support for the pilots and making our systems and procedures more robust," he said.

Martin also praised the pilot, who managed to bring the aircraft down safely, and the passengers who worked together to survive following the crash.

"He did an incredible job given the circumstances," he said. "They did an incredible job to look after each other and stay safe. It was brilliant."

After they were rescued, the five passengers issued a statement in which they called the crash "horrific" and "traumatic."

The plane was en route to Fort Simpson from Yellowknife. Poor weather delayed other aircraft from immediately responding to the crash.